Developmentalist industrial policy

Aka grifting tax dollars to politically connected corporations who, if they even complete the task, will do it for 10x over cost

Ben Norton and Radhika Desai talk about this false industrial economy around 52 minutes into this recent video which I thought was insightful. In particular around 58:30 Radhika argues against the idea that Biden’s industrial policy can work in the same way as other countries like contemporary China or postwar Japan. It only works when the economy is managed or “planned”, and today’s US is the opposite of that, it has very little long-term planning to make productive use of industrial policy.